Broad international shareholder base
RWE AG‘s capital stock is divided into 614,745,499 shares, of which 39,000,000 are non-voting preferred shares.
According to estimates, at the end of 2017 approximately 86% of the RWE shares were held by institutional investors, while the remaining shares were held by employee shareholders (1%) and other private investors (13%). Institutional investors from Germany owned 29% of RWE (previous year: 27%). In other countries on the European continent, this investor group held 14% (previous year: 20%) of RWE’s subscribed capital. In North America, the United Kingdom and Ireland, it accounted for a combined 40% (previous year: 35%).
RWE AG’s single-largest shareholders are RW Holding, in which municipalities have pooled their shares, KEB Holding, which is backed by the City of Dortmund, and the US asset management company BlackRock. Based on their latest voting right notifications, the three companies each held about 5% of the voting rights. At the end of 2016, a large portion of the RWE shares held by municipalities was still pooled in RWEB GmbH, which accounted for 14% of the voting rights. However, this pooling was reversed last year. The free float of our common shares considered by Deutsche Börse in terms of index weighting was 89% at year-end.
Shareholder structure of RWE AG (as of end 2017)
*Source: Deutsche Börse - information about the calculation of the free float can be found in the
Shareholders with > 3 percent of the voting rights
Under the German Securities Trading Act (Wertpapierhandelsgesetz), holders of voting rights of a domestic issuer must notify that issuer and simultaneously the German Federal Financial Supervisory Authority (BaFin) of the level of their holding whenever it reaches, exceeds or falls below specified thresholds. These thresholds are 3, 5, 10, 15, 20, 25, 30, 50 and 75 percent of the issuer’s voting rights.